**COMPANY REGISTRATION NUMBER: 04397258 CHARITY REGISTRATION NUMBER: 1126812 SCOTTISH CHARITY REGISTRATION NUMBER: SC047720**
**FARPLACE ANIMAL RESCUE LIMITED COMPANY LIMITED BY GUARANTEE GROUP FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2024**
## **ALLEN SYKES LIMITED**
Chartered Accountants & Statutory Auditor Unit B4 Castle Gardens Stanhope Bishop Auckland Durham DL13 2FJ
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **GROUP FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
||**Pages**|
|---|---|
|Trustees' annual report (incorporating the directors’ report)|**1 to 7**|
|Independent auditor's report to the members|**8 to 12**|
|Consolidated statement of financial activities (including income and||
|expenditure account)|**13**|
|Charity statement of financial activities (including income and expenditure||
|account)|**14**|
|Consolidated statement of financial position|**15 to 16**|
|Consolidated statement of cash flows|**17**|
|Notes to the group financial statements|**18 to 36**|
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTORS’ REPORT)**
_**)**_
## **YEAR ENDED 31 MARCH 2024**
The trustees, who are also the directors for the purposes of company law, present their report and the group financial statements of the charity for the year ended 31 March 2024.
## **Reference and administrative details**
|**Registered charity name**|Farplace Animal Rescue Limited||
|---|---|---|
|**Charity registration number**|1126812||
|**Scottish charity registration**|||
|**number**|SC047720||
|**Company registration number**|04397258||
|**Principal office and registered**|Farplace||
|**Office**|Sidehead||
||Westgate||
||Bishop Auckland||
||County Durham||
||DL13 1LE||
|**The trustees**|J H Ellis||
||R Frater||
||N Doran|(Resigned 12 October 2024)|
||A Tucker|(Appointed 17 June 2023)|
||K Newell
|(Appointed 12 October 2024)|
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
**Auditor** Allen Sykes Limited Chartered Accountants & Statutory Auditor Unit B4 Castle Gardens Stanhope Bishop Auckland Durham DL13 2FJ **Bankers** The Cooperative Bank PO Box 101 1 Balloon Street Manchester M60 4EP HSBC Bank Plc 110 Grey Street, Newcastle, Tyne & Wear NE1 6JG
2
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **Achievements and performance**
This year again continues our programme to diversify our income sources, which continues to be challenging in the current climate for any charity. Our growing chain of shops continue to generate funds and promote our rehoming work. We have rescued many animals from shop areas and rehomed into these areas. Our plans are to consolidate on our shops so that we can do more to help more animals. The shops both attract gifts in kind for the rescue and legacy pledges from the awareness they bring. We are also beginning to develop an effective gift aid scheme for the shops to further enhance their value.
We have begun work on developing a new wildlife unit and we have planning for additional buildings over the next few years to grow capacity significantly. We have 2 stables now and the sanctuary site is developing significantly. New rabbit units are built, with tiled units enabling easy clean and long-lasting value. The terrapin unit now has 8 tonnes of water filtered every hour to give best quality care for the terrapins in our charge.
We have taken on more animal care staff and we have developed our grant making programme, giving grants both in the UK and in France to no kill animal rescues. We continue to develop the National Animal Sanctuary Alliance to help sanctuaries work together and learn from best practice across the world in helping other sanctuaries who do put animals down to see if there is a way to reduce and eventually eliminate this need.
Our vegan events programme continues to promote the vision of the charity. The festivals, in addition to generating income, encourages a plant based diet and, as such, helps us directly achieve our environmental and animal welfare objectives, with animal agriculture identified as the no 1 cause of global warming according to a UN report. We are actively looking at new events to add to our programme of fundraising events.
We have produced our first range of board and card games to diversify our income further under the brand FARPLACE GAMES, where every game helps animals. We continue to grow this, and plan to licence the games into other countries, making grants to no kill rescues wherever we licence.
2
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTORS' REPORT)** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **Financial review**
The charity continued to benefit from the generosity of those members of the public who give donations, charitable trust support and legacies. The Trustees are also committed to the network of charity shops throughout the United Kingdom retailing donated goods and growing the awareness of the organisation. The shops also have significantly boosted our rehoming rates by advertising those animals needing a home, and all shops take donated animal feed, cat trees and other useful items, helping us to reduce our costs and helping to support the charity's objectives.
Our increase in use of social media has massively increased our rehoming success rate, whilst keeping our commitment to home checks to ensure animals we rehome go to great forever homes.
Our network of shops has made a valuable contribution to the charity and continues to do so. We retain strict criteria to ensure all shops are viable mitigating any exposure to financial loss by the charity to a minimum. The Trustees continue to review costs of trading and take action where necessary.
Incoming resources for the year amounted to £1,553,465 (2023: £993,879). Group incoming resources in what is our fourth period with a trading subsidiary were £6,252,902 (2023: £5,001,929). With the ever-increasing costs of day to day animal welfare a continuing stream of donations is vital to the smooth running of the charity. Consequently, we continuously look for new and innovative ways to make our donors aware of our needs.
We are also working to actively promote both legacies and creation and sale of board and card games to further enhance our income diversity and growth.
The Trustees aim ideally to hold in reserve sufficient funds to cover between 6 and 18 months' running costs for the charity, currently estimated at £250,000 and a further £150,000 to protect against future operating lease liabilities. At 31st March 2024 the charity's unrestricted free reserves totalled £489,855 (2023: £448,711), which excludes balances relating to the net book values of fixed assets.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
We would only invest in ethical financial products that did not conflict with our overall aims and objectives.
The major risks identified by the Trustees have been reviewed and systems established to mitigate those risks.
## **Investment Policy**
We would only invest in ethical financial products that did not conflict with our overall aims and objectives.
3
**FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
**TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTORS’ REPORT)** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **Objectives and activities**
## **Objectives**
(i) For the benefit of the public to relieve the suffering of animals in need of care and attention and, in particular, to provide and maintain rescue homes or other facilities for the reception, care and treatment of such animals.
(ii) To promote humane behaviour towards animals by providing appropriate care, protection, treatment and security for animals which are in need of care and attention by reason of sickness, maltreatment, poor circumstances or ill usage and to educate the public in matters pertaining to animal welfare in general and the prevention of cruelty and suffering among animals.
(iii) For the benefit of the public, the conservation of the environment and education of the public through environmental education, community involvement, ecological and practical work.
## **How our Activities Achieve Public Benefit**
The trustees have had due regard to guidance published by the Charity Commission on Public Benefit. By rescuing many animals that other causes are unable to help, we are helping the public who wish to see these animals helped and who bring them to us. We also reduce public nuisance e.g. in trapping and neutering feral cats in several areas, we have reduced the problems caused by these cats as well as helping their direct welfare needs.
## **Activities**
This year again continues our programme to diversify our income sources, which continues to be challenging in the current climate for any charity. Our growing chain of shops continue to generate funds and promote our rehoming work. We have rescued many animals from shop areas and rehomed into these areas. Our plans are to consolidate on our shops so that we can do more to help more animals. The shops both attract gifts in kind for the rescue and legacy pledges from the awareness they bring.
We have new stables and additional animal care staff at our rescue. As well as this, we have continued our grants programme for other rescues, giving grants between £500 and £10,000 to many different rescues in the greatest need who share our vision for no kill animal rescue.
We have diversified income further by developing a range of card and board games for sale under the name FARPLACE GAMES.
Our vegan events programme continues to promote the vision of the charity. Festivals, in addition to generating income, encourage a plant based diet and, as such, helps us directly achieve our environmental and animal welfare objectives, with animal agriculture identified as the no 1 cause of global warming according to a UN report.
We have also planned the NORTH EAST TABLETOP EXPO, a board game themed major event to pilot, to further diversify the event programme. Our events team and CEO who created the games are also attending other game events to sell our games as well as securing wholesale clients.
4
**FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTORS’ REPORT)**
_**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **Plans for Future Periods**
It is our objective to increase funds for three purposes:
1. To further develop and capitally enhance the main barn to turn it into a major cat unit and help even more cats.
2. To give grants to very small rescues who are struggling and support them in their survival, enhancing rescue capability across the UK and beyond. This will be funded by those of our shops who are located a long distance from the sanctuary.
3. To develop the National Animal Sanctuary Alliance, a network of no kill rescue centres, to lobby on animal welfare issues and give small sanctuaries a voice, as well as providing resources and support to help them in their invaluable work.
> 4. To build our games strategy to enable grants to develop and support no kill rescues all around the world.
## **Structure, governance and management**
Farplace Animal Rescue Limited is a charitable company limited by guarantee, incorporated on 18th March 2002. The company was established under a Memorandum of Association which established the objects and powers of the company and is governed under its Articles of Association, as amended on 4th October 2008. Charitable registration was gained on 19th November 2008, at which point the company officially adopted its charitable objects. Scottish Charity Registration was achieved on 8th September 2017.
The Board of Trustees consists of four members who are actively involved in the organisation. Management of the fundraising, trading and events are delegated to the CEO, Head of Trading, Head of Events and Head of Finance respectively. Day to day running of the animal care side of the organisation is delegated to Janet Edwards.
## **Trustee Recruitment and Appointment**
New trustees are appointed by the board who have the necessary skills, experience and ethical beliefs to benefit the charity as a whole.
## **Induction and Training of Trustees**
New Trustees are welcomed to the charity and kept in touch with our work through regular updates electronically and through informal contact with staff and other trustees. They are offered free training courses at no cost to the charity provided by the chair's training business and are encouraged to seek out additional training that could help their role.
## **Details of Wider Networks**
We have good working relationships with other local sanctuaries and animals are referred to us by other sanctuaries and organisations. We work the closely with Consett Cats, Romanian Dog Rescue, Ankas Animals in Romania and other local rescues to maximise animals helped.
5
**FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **Related Parties**
Janet Edwards is our Head of Animal Care and lives at the sanctuary along with our CEO Gareth Edwards. She is co-owner of some of the land the charity uses for its activities, along with Gareth Edwards. The charity is charged no rent for use of the land or buildings. Any improvements to the land or buildings are totally animal-care oriented.
## **Risk Management**
The major risks identified by the Trustees have been reviewed and systems established to mitigate those risks.
## **Trustees' responsibilities statement**
The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the group financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare group financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
In preparing these group financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the applicable Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the group financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the group financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Disclosure of information to auditor**
Each of the persons who is a trustee at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and
- they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.
6
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **Small company provisions**
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 19 December 2024 and signed on behalf of the board of trustees by:
J H Ellis Trustee
7
**FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
**INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF FARPLACE ANIMAL RESCUE LIMITED** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **Opinion**
We have audited the group financial statements of Farplace Animal Rescue Limited (the 'parent charity') and its subsidiaries (the ‘group’) for the year ended 31 March 2024 which comprise the consolidated statement of financial activities (including income and expenditure account), the charity’s statement of financial activities (including income and expenditure account), the consolidated statement of financial position, the charity’s statement of financial position, the consolidated statement of cash flows, the charity’s statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the group financial statements:
- give a true and fair view of the state of the group’s and of the parent charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
- have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities and Trustees Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the group financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the group financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
8
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF FARPLACE ANIMAL RESCUE LIMITED** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **Other information**
The other information comprises the information included in the annual report, other than the group financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the group financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the group financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the group financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the group financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trustees' report for the financial year for which the group financial statements are prepared is consistent with the group financial statements; and
- the trustees' report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the group and the parent charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent charity, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charity group financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to prepare the group financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.
9
**FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
**INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FARPLACE ANIMAL RESCUE LIMITED** _**(continued)**_
**YEAR ENDED 31 MARCH 2024**
## **YEAR ENDED 31 MARCH 2024**
## **Responsibilities of trustees**
As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the group financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of group financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the group financial statements, the trustees are responsible for assessing the group’s and the parent charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the group financial statements**
We have been appointed as auditor under section 44(1) c of the Charities and Trustees Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereafter,
Our objectives are to obtain reasonable assurance about whether the group financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, Charities Act 2011, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
10
**FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
**INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FARPLACE ANIMAL RESCUE LIMITED** _**(continued)**_
**YEAR ENDED 31 MARCH 2024**
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were
- indicative of potential bias; and
- investigated the rationale behind any identified significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the group financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group’s internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
11
**FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FARPLACE ANIMAL RESCUE LIMITED** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
- Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group’s or the parent charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the group financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent charity to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the group financial statements, including the disclosures, and whether the group financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated group financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
## **Use of our report**
This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
Philip Lamb (Senior Statutory Auditor)
For and on behalf of Allen Sykes Limited Chartered Accountants & Statutory Auditor Unit B4 Castle Gardens Stanhope Bishop Auckland Durham DL13 2FJ
20 December 2024
12
**FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)**
## **YEAR ENDED 31 MARCH 2024**
|Income from:
Donations and legacies
5
Other trading activities
6
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net income /
(expenditure) for the year
Net movement in funds
Fund balances at 1 April
2023
Fund balances at 31
March 2024|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**2024**
**2024**
**2024**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
307,356
482
307,838
450,757
174,554
625,311
5,945,546
-
5,945,546
4,551,172
-
4,551,172|
|---|---|
||6,252,902
482
6,253,384
5,001,929
174,554
5,176,483
4,380,052
-
4,380,052
3,710,037
-
3,710,037
967,956
8,029
975,985
513,316
178,496
691,812|
||5,348,008
8,029
5,356,037
4,223,353
178,496
4,401,849
904,894
(7,547)
897,347
778,576
(3,942)
774,634
1,569,157
24,881
1,594,038
790,581
28,823
819,404|
||2,474,051
17,334
2,491,385
1,569,157
24,881
1,594,038|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
13
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **CHARITY STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)**
## **YEAR ENDED 31 MARCH 2024**
|**Notes**
Income from:
Donations and
legacies
5
Other trading
activities
6
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net income /
(expenditure) for the
year
Net movement in
funds
Fund balances at 1
April 2023
Fund balances at
31 March 2024|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**2024**
**2024**
**2024**
**2023**
**2023**
**2023**
£
£
£
£
£
£
1,494,426
482
1,494,908
735,888
174,554
910,442
58,557
-
58,557
83,437
-
83,437|
|---|---|
||1,552,983
482
1,553,465
819,325
174,554
993,879
138,854
-
138,854
146,118
-
146,118
967,956
8,029
975,985
513,316
178,496
691,812|
||1,106,810
8,029
1,114,839
659,434
178,496
837,930|
||446,173
(7,547)
438,626
159,891
(3,942)
155,949
759,289
24,881
784,170
599,398
28,823
628,221|
||1,205,462
17,334
1,222,796
759,289
24,881
784,170|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
14
**FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **CONSOLIDATED STATEMENT OF FINANCIAL POSITION**
## **31 MARCH 2024**
|**Notes**
**Fixed Assets**
Tangible assets
17
Investments
18
**Current assets**
Stocks
Debtors
20
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
21
Net current assets
**Total assets less current liabilities**
Creditors: amounts falling due after
more than one year
Net assets
**Income funds**
Restricted funds
25
Unrestricted fund|**2024**
**2024**
**2023**
**2023**
**£**
**£**
**£**
**£**
**Group**
**Charity**
**Group**
**Charity**
2,001,530
1,095,413
966,214
335,457
-
2
-
2|
|---|---|
||2,001,530
1,095,415
966,214
335,459
173,818
-
48,627
-
329,686
63,851
173,204
37,295
409,858
295,369
549,997
446,901|
||913,362
359,220
771,828
484,196
(268,691)
(150,989)
(144,004)
(35,485)
644,671
228,231
627,824
448,711|
||2,646,201
1,323,646
1,594,038
784,170
(154,816)
(100,850)
-
-|
||2,491,385
1,222,796
1,594,038
784,170|
||17,334
17,334
24,881
24,881
2,474,051
1,205,462
1,569157
759,289|
||2,491,385
1,222,796
1,594,038
784,170|
15
**FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **CONSOLIDATED STATEMENT OF FINANCIAL POSITION**
## **31 MARCH 2024**
The trustees have prepared group financial statements in accordance with the Companies Act 2006 and section 44 of the Charities and Trustee Investment (Scotland) Act 2005. These group financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These group financial statements were approved by the board of trustees and authorised for issue on 19 December 2024, and are signed on behalf of the board by:
J H Ellis Trustee
Company Registration Number: 04397258
16
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2024**
|Cash flows from operating activities
Net income / (expenditure)
Adjustments for:
Depreciation of tangible assets
Government grant income
Other interest receivable and similar income
Interest payable and similar charges
Accrued expenses
**Changes in:**
Stocks
Trade and other debtors
Trade and other creditors
Cash generated from operations
Interest paid
Interest received
Net cash from operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Proceeds from disposal of fixed assets
Net cash used in investing activities
**Cash flows from financing activities**
Proceeds from new loans
Repayment of loans
Payments of finance lease liabilities
Net cash used in financing activities
**Net increase in cash and cash equivalents**
**Cash and cash equivalents at beginning of year**
**Cash and cash equivalents at end of year**|**2024**
**2024**
**2023**
**2023**
**£**
**£**
**£**
**£**
**Group**
**Charity**
**Group**
**Charity**
897,347
438,626
774,634
155,949
211,701
34,444
203,997
39,353
-
-
-
-
-
-
(814)
-
3,657
-
567
-
-
-
-
-
(125,191)
-
(27,284)
-
(156,482)
(46,556)
125,319
199,915
(5,450)
(4,496)
(123,135)
(1,437)|
|---|---|
||825,582
422,018
953,284
393,780
(3,657)
-
(567)
-
-
-
814
-
-|
||821,925
422,018
953,531
393,780
(1,247,687)
(794,400)
(643,871)
(166,584)
850|
||(424,912)
372,382
309,660
227,196
368,691
300,850
-
-
(80,000)
(80,000)
-
-
(3,918)
-
(3,960)
(1,572)|
||284,773
(220,850)
(3,960)
(1,572)|
||(140,139)
(151,532)
305,700
225,624
549,997
446,901
244,297
244,297|
||409,858
295,369
549,997
446,901|
17
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE GROUP FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **1. General information**
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England, Wales and Scotland. The address of the registered office is Farplace, Sidehead, Westgate, Bishop Auckland, County Durham, DL13 1LE.
## **2. Statement of compliance**
These group financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
## **3. Accounting policies**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Going concern**
There are no material uncertainties about the charity’s ability to continue.
## **Consolidation**
The group financial statements consolidate the financial statements of Farplace Animal Rescue Limited and all of its subsidiary undertakings.
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
18
**FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
**3. Accounting policies** _**(continued)**_
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
## **Incoming resources**
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
- legacy income is recognised when receipt is probable and entitlement is established.
- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
## **Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
19
**FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
**3. Accounting policies** _**(continued)**_
## **Operating leases**
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
## **Tangible assets**
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
## **Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
- Leasehold property 10% straight line improvements Motor vehicles - 25% reducing balance - Equipment 15% reducing balance
Freehold land is not depreciated.
## **Investments**
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
## **Impairment of fixed assets**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
## **Stocks**
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
20
**FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **3. Accounting policies** _**(continued)**_ **Finance leases and hire purchase contracts**
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
## **Financial instruments**
All of the charity's financial instruments can be classed as basic. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
## **Defined contribution plans**
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
## **4. Limited by guarantee**
The company is limited by guarantee, there being no issued share capital, and as such is not under the direct control of any individual but of the board of directors as a whole.
At 31 March 2023 there were 4 members each of whom had undertaken to contribute an amount not exceeding £1 in the event of a winding up.
21
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **5. Donations and legacies**
## **Group**
|**Group**||||
|---|---|---|---|
||Unrestricted|Restricted|**Total Funds**|
||Funds|Funds|**2024**|
||£|£|**£**|
|**Donations**||||
|Donations|134,027|482|**134,509**|
|Charitable trusts|6,600|-|**6,600**|
|**Legacies**||||
|Legacies|87,626|-|**87,626**|
|**Grants**||||
|Kickstarter funding|-|-|**-**|
|**Other donations and legacies**||||
|Gift Aid|79,103|-|**79,103**|
||**307,356**|**482**|**307,838**|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2023|
||£|£|£|
|**Donations**||||
|Donations|202,104|1,718|202,104|
|Charitable Trusts|20,505|–|20,505|
|**Legacies**||||
|Legacies|162,945|–|162,945|
|**Grants**||||
|Kickstarter funding|24,152|172,836|196,988|
|**Other donations and legacies**||||
|Gift Aid|41,051|–|41,051|
||450,757
|174,554|625,311|
22
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
|**Charity**||||
|---|---|---|---|
||Unrestricted|Restricted|**Total Funds**|
||Funds|Funds|**2024**|
||£|£|**£**|
|**Donations**||||
|Donations|1,321,097|482|**1,321,579**|
|Charitable trusts|6,600|-|**6,600**|
|**Legacies**||||
|Legacies|87,626|-|**87,626**|
|**Grants**||||
|Kickstarter funding|-|-|**-**|
|**Other donations and legacies**||||
|Gift Aid|79,103|-|**79,103**|
||**1,494,426**|**482**|**1,494,908**|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2023|
||£|£|£|
|**Donations**||||
|Donations|487,235|1,718|488,953|
|Charitable Trusts|20,505|–|20,505|
|**Legacies**||||
|Legacies|162,945|–|162,945|
|**Grants**||||
|Kickstarter funding|24,152|172,836|196,988|
|**Other donations and legacies**||||
|Gift Aid|41,051|–|41,051|
||735,888
|174,554|910,442|
23
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **6. Other trading activities**
## **Group**
|**Group**|**Group**||||
|---|---|---|---|---|
|Unrestricted Funds||**Total Funds**|Unrestricted|Total Funds|
||||Funds||
|||**2024**||2023|
|||**£**||£|
|Vegan festivals|45,145|**45,145**|52,852|52,852|
|Other trading income|111|**111**|30,585|30,585|
|Shop income|5,900,290|**5,900,290**|4,467,735|4,467,735|
||5,945,546|**5,945,546**|4,551,172|4,551,172|
|**Charity**|||||
||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
||Funds|**2024**|Funds|2023|
||£|**£**|£|£|
|Vegan festivals|45,145|**45,145**|52,852|52,852|
|Lotteries income|8,968|**8,968**|11,506|11,506|
|Recycling income|4,444|**4,444**|19,079|19,079|
||58,557|**58,557**|83,437|83,437|
|**7. Costs of raising donations and legacies**|||||
|**Costs of raising donations and legacies**|||||
|**Group and charity**|||||
|Costs of raising donations and legacies|6,000|**6,000**|8,952|8,952|
24
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **8. Costs of other trading activities**
|**Group**
Shop costs
Fundraising costs
**Charity**
Shop costs
Fundraising costs|**Unrestricted**
**Funds**
**Total Funds**
**2024**
**Unretsricted**
**Funds**
**Total Funds**
**2023**
**£**
**£**
**£**
**£**
4,241,198
**4,241,198**
3,566,771
3,566,771
138,854
**138,854**
143,266
143,266|
|---|---|
||4,380,052
**4,380,052**
3,710,037
3,710,037|
||-
**-**
-
-
138,854
**138,854**
146,118
146,118|
||138,854
**138,854**
146,118
146,118|
## **9. Charitable activities**
|**9. Charitable activities**||
|---|---|
|**Charity**
Animal welfare
Kickstarter youth training scheme
Support costs
**Charity**
Animal welfare
Kickstarter youth training scheme
Support costs|**Unrestricted**
**Funds**
**Restricted Funds**
**Total Funds**
**2024**
**£**
**£**
**£**
813,166
8,029
**821,195**
-
-
**-**
154,790
-
**154,790**|
||967,956
8,029
**975,985**|
||**Unrestricted**
**Funds**
**Restricted Funds**
**Total Funds**
**2023**
**£**
**£**
**£**
345,373
5,660
351,033
24,152
172,836
196,988
143,791
-
143,791|
||513,316
178,496
691,812|
25
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **10. Expenditure on charitable activities by activity type**
|Animal welfare
Kickstarter youth training scheme
Governance costs|**Activities**
**undertaken**
**directly**
**Support costs**
**Total Funds**
**2024**
**Total Funds**
**2023**
**£**
**£**
**£**
**£**
810,304
154,790
**965,094**
489,626
-
-
**-**
196,988
-
10,891
**10,891**
5,198|
|---|---|
||810,304
165,681
**975,985**
691,812|
|**11. Analysis of support costs**
**Group and Charity**
Governance costs
Other costs
**12. Net income/(expenditure)**
Net expenditure is stated after charging/(crediting):
Group
2024
£
Depreciation of tangible fixed assets
209,412
Operating lease rentals
5,494|Animal
welfare
**Total 2024**
Total 2023
£
**£**
£
10,891
**10,891**
5,198
-
**-**
-
--**---------**-**- -**|Animal
welfare
**Total 2024**
Total 2023
£
**£**
£
10,891
**10,891**
5,198
-
**-**
-
--**---------**-**- -**|
|---|---|---|
||10,891
**10,891**|5,198|
26
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **14. Staff costs**
|The total staff costs and employee benefits|for the reporting|period are analysed as follows:|period are analysed as follows:||
|---|---|---|---|---|
||**Group**|Group|**Charity**|Charity|
||**2024**|2023|**2024**|2023|
||**£**|£|**£**|£|
|Wages and salaries|**2,264,586**|1,670,145|**426,281**|401,163|
|Social security costs|**158,251**|84,013|**39,910**|28,294|
|Employer contributions to pension plans|**28,044**|25,646|**10,012**|6,700|
||**2,450,881**|1,779,804|**476,203**|436,157|
The average head count of employees during the year was 171 (2021: 40). The average number of full-time equivalent employees during the year is analysed as follows:
**----- Start of picture text -----**
Group Group Charity Charity
2024 2023 2024 2023
No. No. No. No.
Number of administrative staff 5 2 2 2
Number of management staff 7 1 4 1
Number of animal care staff 6 3 6 3
Number of shop staff 109 116 1 22
Number of events staff 3 2 2 2
139 124 17 30
**----- End of picture text -----**
No employee received employee benefits of more than £60,000 during the year.
## **Key Management Personnel**
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the group. The total compensation paid to key management personnel for services provided to the group was £143,812 (2023: £123,452). The total compensation paid to key management personnel for services provided to the charity was £71,906 (2023: £78,147).
27
**FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **15. Trustee remuneration and expenses**
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
No trustee expenses have been incurred (2023 - £Nil).
## **16. Transfers between funds**
Transfers between funds relate to the transfer of restricted funds to unrestricted funds to reflect the elements of overall expenditure which are in line with the restricted purposes of these funds.
There were no transfers made between funds in the year.
28
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **17. Tangible fixed assets**
|**Group**
Cost
At 1 April 2023
Additions
Disposals
At 31 March 2024
Depreciation
At 1 April 2023
Depreciation charged
Eliminated on disposal
At 31 March 2024
Carrying amount
At 31 March 2024
At 31 March 2023
**Charity**
Cost
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Depreciation charged
At 31 March 2024
Carrying amount
At 31 March 2024
At 31 March 2023|**Freehold land**
**& buildings**
**Leasehold**
**improvements**
**Leasehold**
**Land &**
**Buildings**
**Fixtures and**
**fittings**
**Computers**
**Motor**
**vehicles**
**Total**
£
£
£
£
£
£
71,564
318,695
-
758,526
161,613
93,352
1,403,750
730,055
-
64,154
361,307
14,701
77,650
1,247,867
(10,133)
(10,133)|
|---|---|
||**801,619**
**318,695**
**64,154**
**1,119,833**
**176,314**
**160.869**
**2,641,484**|
||-
108,664
-
204,884
74,566
49,422
437,536
-
25,398
-
149,557
20,186
14,271
209,412
(6,994)
(6,994)|
||**-**
**134,062**
**-**
**354,441**
**94,752**
**56,699**
**639,954**|
||**801,619**
**184,633**
**64,154**
**765,392**
**81,562**
**104,170**
**2,001,530**|
||71,564
210,031
-
553,642
87,047
43,930
966,214|
||**Freehold land**
**& buildings**
**Leasehold**
**improvements**
**Leasehod**
**Land &**
**Buildings**
**Fixtures and**
**fittings**
**Computers**
**Motor**
**vehicles**
**Total**
£
£
£
£
£
£
71,564
318,695
-
80,650
-
30,120
501,029
730,055
-
64,154
191
-
-
794,400|
||**801,619**
**318,695**
**64,154**
**80841**
**-**
**30,120**
**1,295,429**|
||-
108,664
-
36,287
-
20,624
165,572
-
25,398
-
6,671
-
2,375
34,444|
||**-**
**134,062**
**-**
**42,958**
**-**
**22,996**
**200,016**|
||**801,619**
**184,633**
**64,154**
**37,883**
**-**
**7,124**
**1,095,413**|
||71,564
210,031
-
44,363
-
9,499
335,457|
29
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **Tangible fixed assets** _**(continued)**_
## **Finance leases and hire purchase contracts**
Included within the carrying value of tangible fixed assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
|**Group**|**Motor**|
|---|---|
||**vehicles**|
||**£**|
|**At 31 March 2024**|**73,578**|
|At 31 March 2023|22,872|
|**Charity**|**Motor**|
||**vehicles**|
||**£**|
|**At 31 March 2024**|**-**|
|At 31 March 2023|4,824|
30
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **17. Investments**
The group has no investments.
|**Charity**||||**Shares**|**in**|
|---|---|---|---|---|---|
|||||**group**||
|||||**undertakings**||
|||||**£**||
|**Cost**||||||
|**At 1 April 2022 and 31 March 2023**|||||**2**|
||||||**=**|
|**Impairment**||||||
|**At 1 April 2022 and 31 March 2024**|||||**–**|
||||||**=**|
|**Carrying amount**||||||
|**At 31 March 2023**|||||**2**|
||||||**=**|
|At 31 March 2022|||||2|
||||||**=**|
|**Subsidiaries and other investments**||||||
|||||Percentage of||
|||Class of share||shares held||
|**Subsidiary undertakings**||||||
|Farplace Trading Limited|||Ordinary|100||
|The results for subsidiaries and other undertakings are as follows:||||||
||Capital and reserves||Profit/(loss)|for the year||
||**2024**|2023|**2024**|2023||
||**£**|£|**£**|£||
|**Subsidiary undertakings**||||||
|Farplace Trading Limited|1,268,591|809,870|458,721|618,685||
31
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
|**19. Stocks**
**Group**
**Group**
**Charity**
**2024**
2023
**2024**
**£**
£
**£**
Raw materials and consumables
**173,818**
48,627
**-**
**20. Debtors**
**Group**
**Charity**
**2024**
2023
**2024**
**£**
£
**£**
Amounts owed by group undertakings
**-**
–
**50,871**
Prepayments and accrued income
**76,010**
92,458
**8,250**
Other debtors
**253,676**
80,656
**4,730**
**329,686**
173,204
**63,851**
**21. Creditors: amounts falling due within one**
**year**
**Group**
**Charity**
**2024**
2023
**2024**
**£**
£
**£**
Loans
**120,000**
-
**120,000**
Trade creditors
**39,610**
68,492
**4,512**
Amounts owed to group undertakings
–
**-**
Accruals and deferred income
**32,214**
27,316
**5,723**
Social security and other taxes
**47,257**
31,445
**13,931**
Obligations under finance leases and
-
hire purchase contracts
**12,890**
2,753
**-**
Pension creditor
-
**-**
Salary deductions
-
**-**
Other creditors
**16,720**
13,998
**6,823**
**268,691**
144,004
**150,989**
**=**
HP and finance leases are secured upon the assets to which they relate.
**22. Creditors: amounts falling due after more than one year**
**Group**
**Charity **
**2024**
2023
**2024**
**£**
£
**£**
Obligations under finance leases and
hire purchase contracts **53,966** -
**-**
Loan**100,850** -
**100,850**
**154,816**
**100,850**|2023
£
-
2023
£
-
20,125
17,170
37,295
2023
£
-
2,593
13,156
2,108
7,643
-
–
–
9,985
38,485
**=**
2023
£
-
-|
|---|---|
HP and finance leases are secured upon the assets to which they relate.
32
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **23. Finance leases and hire purchase contracts**
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:
|follows:||
|---|---|
|Not later than 1 year
Later than 1 year and not later than 5 years|**Group**
**2024**
2023
**Charity**
**2024**
2023
**£**
£
**£**
£
**12,890**
2,753
**-**
-
**53,966**
-
**-**
-|
||66,856
2,753
-
-|
## **24. Pensions and other post retirement benefits**
## **Defined contribution plans**
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £38,060 (2023: £25,646).
## **25. Analysis of charitable funds**
|**Unrestricted funds**
**Group**
General funds
**Charity**
General funds|At 1 April
**At 31 March**
2023
Income
Expenditure
Transfers
**2024**
£
£
£
£
**£**|
|---|---|
||1,569,157
6,252,902
5,348,008
**-**
2,474,051|
||At 1 April
**At 31 March**
2023
Income
Expenditure
Transfers
**2024**
£
£
£
£
**£**|
||759,289
1,552,983
1,106,810
- 1,205,462|
33
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **25. Analysis of charitable funds continued**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
## **Restricted Funds**
|Cat hospice
Barns and
buildings
Land and
woods
Vet appeal
Environmental
project
Kickstarter
Youth Training
scheme|Movement in Funds
Movement in Funds
Balance
at 1
April
2022
Incoming
resources
Resources
expended
Balances at
1 April
2023
Incoming
resources
Resources
expended
Balances as
at 31
March
2024
1,169
-
(1,000)
169
-
(169)
169
6,660
-
(2,172)
4,488
-
(404)
4,488
14,250
-
(500)
13,750
-
(500)
13,750
-
1,718
(1,718)
-
482
(482)
-
6,744
-
(270)
6,474
-
(6,474)
-
-
172,836
(172,836)
-
-
-
-|
|---|---|
||28,823
174,554
(178,496)
24,881
482
(8,029)
17,334|
Cat hospice
Grants received for the construction of a cat hospice.
Barns and buildings
Grants and donations received towards the barn construction and other animal care buildings.
Land and woods Grants received towards the acquisition of Sidehead land and woods.
Vet appeal Environmental project Kickstarter grants
Donations towards vet bills.
Funding from Tesco towards an environmental project.
Grants toward training of apprentices in the retail sector
34
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **26. Analysis of net assets between funds**
|**Group**
Tangible fixed assets
Current assets /
(liabilities)
Long term liabilities|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**2024**
**2024**
**2024**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
1,984,196
17,334
2,001,530
941,333
24,881
966,214
644,671
644,671
627,824
-
627,824
(154,816)
(154,816)
-
-
-|
|---|---|
||2,474,051
17,334
2,491,385
1,569,157
24,881
1,594,038|
|**Charity**
Tangible fixed assets
Investments
Current assets /
(liabilities)
Long term liabilities|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**2024**
**2024**
**2024**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
1,078,079
17,334
1,095,413
310,576
24,881
335,457
2
-
2
2
-
2
228,231
-
228,231
448,711
-
448,711
(100,850)
-
(100,850)
-
-
-|
|---|---|
||1,205,462
17,334
1,222,796
759,289
24,881
784,170|
## **27. Related party transactions**
During the year the charity acquired from Mr Gareth Edwards, The Chief Executive Officer, the freehold in the property known as Farplace, Sidehead at full market value.
35
## **FARPLACE ANIMAL RESCUE LIMITED**
## **COMPANY LIMITED BY GUARANTEE**
**NOTES TO THE GROUP FINANCIAL STATEMENTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2024**
## **28. Operating lease commitments**
|Within one year
Between two and five years
In over five years|**Group**
**Charity**
**2024**
**2023**
**2024**
**2023**
**£**
**£**
**£**
**£**
715,744
595,354
715,744
591,125
1,483,333
2,136,750
1,483,333
2,136,750
22,000
850,916
22,000
850,916|
|---|---|
||2,221,077
3,583,020
2,221,077
3,578,791|
36